Sensex surges; RIL, Infosys, ICICI Bank gain
The NSE Nifty continued to hover around its psychological 5600 mark. All sectoral indices were trading in green. The BSE FMCG index has outperformed other sectoral indices, rising over 2%. Metals, power, IT and banking stocks too have surged.
The BSE broader indices - midcap and smallcap were up by nearly 1% each.
Ambareesh Baliga, COO, Way2Wealth says the pullback is due to short covering. “The current rally may not be sustainable."
He further says because of futures and options expiry tomorrow the Nifty may go towards 5,600-5,650. But he doesn’t see the index moving beyond 5,600-5,650. There will a dip in the market and people should use that dip to buy. He reiterates his prediction of a bull run post August-September."
At 12.54 hrs IST, the Sensex was up 288.78 points or 1.57% at 18701.19, and the Nifty was up 54.30 points or 0.98% at 5599.60.
About 1735 shares advanced, 939 shares declined, and 982 shares remained unchanged.
Top gainers on the Sensex were Reliance Infra at Rs 535.15 up 2.22%, Tata Motors at Rs 1,004.10 up 2.12%, BHEL at Rs 2,044.15 up 2.08%, Sterlite Ind at Rs 165.80 up 2% and ITC at Rs 197.70 up 1.99%.
FMCG major Hindustan Lever was trading at Rs 329.20 up 1.79% from its previous close of Rs 323.40.
Index heavyweight Reliance was trading at Rs 877.50 up 0.8% from its previous close of Rs 870.55.
Tech major Infosys was trading at Rs 2,885.50 up 0.76% from its previous close of Rs 2,863.85.
Cigarette major ITC was trading at Rs 197.70 up 1.99% from its previous close of Rs 193.85.
Top losers on the Sensex were ONGC at Rs 280.95 down 1.25%, Jaiprakash Asso at Rs 77.90 down 1.2%, Bajaj Auto at Rs 1,410 down 0.76%, DLF at Rs 209.60 down 0.26% and L&T at Rs 1,798.65 down 0.06%.
Refinery major HPCL was trading at Rs 402.75 down 1.24% from its previous close of Rs 407.80.
Most active shares on BSE were Financial Tech, Orissa Minerals, GTL, Tata Coffee and SBI.
Top percentage gainers on the BSE : Excel Infoways, Bhoruka Alum, KS Oils, Orissa Minerals and Kinetic Eng were up 12-20%. Read More
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